Universal Beteiligungs und Servicegesellschaft mbH Makes New $1.22 Million Investment in ServiceTitan Inc. $TTAN

Universal Beteiligungs und Servicegesellschaft mbH purchased a new stake in shares of ServiceTitan Inc. (NASDAQ:TTAN) during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 12,100 shares of the company’s stock, valued at approximately $1,220,000.

Other hedge funds have also made changes to their positions in the company. Invesco Ltd. grew its position in ServiceTitan by 1,388.2% during the 2nd quarter. Invesco Ltd. now owns 1,477,369 shares of the company’s stock worth $158,344,000 after purchasing an additional 1,378,100 shares in the last quarter. JPMorgan Chase & Co. lifted its holdings in shares of ServiceTitan by 300,996.1% in the second quarter. JPMorgan Chase & Co. now owns 1,324,823 shares of the company’s stock valued at $141,995,000 after purchasing an additional 1,324,383 shares in the last quarter. Franklin Resources Inc. boosted its position in shares of ServiceTitan by 148.4% in the second quarter. Franklin Resources Inc. now owns 1,893,237 shares of the company’s stock worth $202,917,000 after buying an additional 1,131,062 shares during the period. Atreides Management LP purchased a new position in shares of ServiceTitan during the second quarter valued at $68,679,000. Finally, Balyasny Asset Management L.P. grew its holdings in shares of ServiceTitan by 869.9% during the second quarter. Balyasny Asset Management L.P. now owns 568,530 shares of the company’s stock valued at $60,935,000 after buying an additional 509,912 shares in the last quarter.

ServiceTitan Stock Down 3.3%

Shares of ServiceTitan stock opened at $78.34 on Friday. The firm has a market cap of $7.34 billion and a price-to-earnings ratio of -19.20. The stock has a 50-day simple moving average of $99.03 and a 200-day simple moving average of $102.00. ServiceTitan Inc. has a 52-week low of $77.41 and a 52-week high of $131.33. The company has a debt-to-equity ratio of 0.07, a current ratio of 4.14 and a quick ratio of 4.14.

ServiceTitan (NASDAQ:TTAN) last issued its quarterly earnings data on Thursday, December 4th. The company reported $0.24 earnings per share for the quarter, beating the consensus estimate of $0.15 by $0.09. The firm had revenue of $249.16 million for the quarter, compared to analyst estimates of $238.26 million. ServiceTitan had a negative net margin of 23.91% and a negative return on equity of 10.96%. The company’s revenue for the quarter was up 25.0% on a year-over-year basis. During the same quarter last year, the firm earned $0.75 earnings per share. On average, equities research analysts expect that ServiceTitan Inc. will post -1.98 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other ServiceTitan news, CEO Ara Mahdessian sold 88,525 shares of the firm’s stock in a transaction dated Wednesday, December 10th. The stock was sold at an average price of $107.56, for a total transaction of $9,521,749.00. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, President Vahe Kuzoyan sold 16,388 shares of the business’s stock in a transaction dated Monday, December 15th. The stock was sold at an average price of $102.82, for a total value of $1,685,014.16. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 355,202 shares of company stock worth $35,405,269 in the last 90 days. 51.72% of the stock is owned by insiders.

Wall Street Analyst Weigh In

A number of equities research analysts have commented on the company. BMO Capital Markets raised their price objective on ServiceTitan from $115.00 to $125.00 and gave the stock an “outperform” rating in a research report on Friday, December 5th. TD Cowen reiterated a “buy” rating on shares of ServiceTitan in a report on Friday, December 5th. Morgan Stanley raised their price target on shares of ServiceTitan from $118.00 to $125.00 and gave the stock an “equal weight” rating in a report on Friday, December 5th. Truist Financial set a $130.00 price objective on shares of ServiceTitan in a research report on Tuesday, October 21st. Finally, BTIG Research assumed coverage on shares of ServiceTitan in a research note on Tuesday, December 16th. They issued a “buy” rating and a $130.00 price objective on the stock. One research analyst has rated the stock with a Strong Buy rating, thirteen have given a Buy rating, four have given a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, ServiceTitan has an average rating of “Moderate Buy” and an average target price of $135.31.

ServiceTitan Profile

ServiceTitan, Inc (NASDAQ: TTAN) is a cloud-based software provider specializing in end-to-end business management solutions for residential and commercial trade contractors. The company’s platform integrates customer relationship management, scheduling and dispatch, mobile workforce management, invoicing, payments and reporting tools into a single suite. By automating key back-office processes, ServiceTitan helps field service businesses improve operational efficiency, enhance customer experience and drive revenue growth.

At the core of ServiceTitan’s offering is a mobile application that allows technicians to access job details, update work orders, capture signatures and process payments from the field.